New Delhi, June 18 -- MUMBAI: After more than a decade of regulatory probes, courtroom battles and governance scandals, the National Stock Exchange Ltd (NSE) has finally taken a decisive step towards its long-delayed capital markets debut.

India's largest stock exchange filed its draft red herring prospectus (DRHP) on Wednesday for what could become the country's largest initial public offering (IPO), reviving a listing plan that was effectively frozen by a series of regulatory and legal disputes dating back to 2015.

The IPO comprises an offer for sale of up to 149 million equity shares. Based on indicative grey market prices of at least Rs.2,000 a share, the offering could be worth about Rs.29,780 crore (more than $3 billion) and value...